This 25-Year-Old EC Has Spacious 3-Bedders From $1.39M — But Has It Been A Good Buy?

Over the years, we have analysed numerous condominiums in Singapore that were launched for sale under tough market conditions. In the case of Summerdale, a 432-unit executive condo – now privatised – on Boon Lay Drive, it would be an understatement to describe its initial entry amid tough market conditions.

This development in District 22 was launched for sale 1997, shortly after the introduction of the EC scheme and when buyer sentiment in the private housing market here was rocked by the Asian Financial Crisis.

Back then, developers and buyers were still adapting to the EC scheme, and the first few EC developments hit the market a year or so after it was announced in 1995. Buyers and agents also had to do a lot of ground work to fully understand a new development; there were no YouTube tours, property portals, or Stacked writers publishing useful price comparisons.

So it’s hard to understate how much of a leap of faith the initial buyers of Summerdale faced at the time. In essence, they were being asked to pay for a home that was considerably more than the price of an HDB flat, for something that was “not quite” a condo.

Next, as with most of the initial ECs to hit the market, Summerdale arrived in the shadow of the Asian Financial Crisis (AFC). This was a double-blow for everyone in the property market at the time.

Sentiment was less than exuberant following the introduction of government property cooling measures in 1996, so the AFC struck at a time when the property market was moderating. As a result, some buyers were waiting on the sideline for property prices to fall further, which dampened buying activity.

Finally, the Jurong West area where Summerdale is located was much less developed compared to what the area offers today. Next to Boon Lay MRT station on the East-West Line was Jurong Point, a shopping mall that opened in 1995. In fact, Summerdale was the first semi-private residential development that area had seen up to that point.

To sum it up: Summerdale was a new housing type set in a largely developing residential area, and the project was sold when a regional financial crisis kept pursestring tightly drawn.

There are very few private residential developments in Singapore that have launched for sale under similar challenging circumstances. In this deep-dive, we’ll uncover how this ultimately worked out for Summerdale, as well as its sales performance to date.

A snapshot of Summerdale as of end-2025

Completed in 2000, Summerdale is located at the junction of Boon Lay Way and Boon Lay Drive. The condo is between Lakeside and Boon Lay MRT stations, and it is next to River Valley High School. The 432-unit development also only features three-bedroom units.

Average transacted prices for Summerdale in 2025

Let’s start with an overview of the performance of the private residential markeet in D22 to frame our expectations.

For the following, we’ll look at all transaction types, including new sale, resale, and sub sale. Note that nearly all private residential properties in D22 are 99-year leasehold projects, barring the outlying project that has a tenure of slightly over 100 years.

According to the data compiled by Stacked, the average price growth of private homes in D22 generally tracks the wider private residential property market. What is significant is the current average price.